World Economy

Iraq Seeks $16b WB Loan

Iraq Seeks $16b WB LoanIraq Seeks $16b WB Loan

The financial advisor to Iraqi Prime Minister Haider al-Abadi announced during the preliminary meetings with the International Monetary Fund in Amman that Iraq is seeking to borrow $16 billion, and said that the meetings with the IMF will continue for a week, IraqiNews reported. Madhar Mohammed Saleh said in a brief statement that “the preliminary meetings between Iraq and the IMF began Saturday in the Jordanian capital, Amman, and will last for a week.” He added that “the purpose of these meetings is to get a loan of $16 billion in the form of payments to be delivered over three years.” Discussions between the two sides focused on the economic situation in Iraq, but did not identify the uses of the loan or the amount of repayments, the official said.